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{{Short description|American transportation company}} | {{Short description|North American supply chain and transportation solutions company}} | ||
{{Other uses}} | {{Other uses}} | ||
{{Advert|date=July 2022}} | {{Advert|date=July 2022}} | ||
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| key_people = {{nowrap|Robert E. Sanchez}}<br>{{nowrap|(] & ])}}<ref>{{Cite web|last=Parker|first=Garrett|date=2019-06-07|title=10 Things You Didn't Know about Ryder System CEO Robert E. Sanchez|url=https://moneyinc.com/ryder-system-ceo-robert-e-sanchez/|access-date=2020-07-28|website=Money Inc|language=en-US}}</ref><br>{{nowrap|John Diez}}<br>{{nowrap|(] & ])}}<ref>{{Cite news|last=Federman|first=Amy|date=2021-05-06|title=Ryder Names New Chief Financial Officer and New President of its Fleet Management Solutions Business|language=en-US|work=Business Wire|url=https://www.businesswire.com/news/home/20210506006223/en/Ryder-Names-New-Chief-Financial-Officer-and-New-President-of-its-Fleet-Management-Solutions-Business|access-date=2021-05-06|issn=}}</ref> | | key_people = {{nowrap|Robert E. Sanchez}}<br>{{nowrap|(] & ])}}<ref>{{Cite web|last=Parker|first=Garrett|date=2019-06-07|title=10 Things You Didn't Know about Ryder System CEO Robert E. Sanchez|url=https://moneyinc.com/ryder-system-ceo-robert-e-sanchez/|access-date=2020-07-28|website=Money Inc|language=en-US}}</ref><br>{{nowrap|John Diez}}<br>{{nowrap|(] & ])}}<ref>{{Cite news|last=Federman|first=Amy|date=2021-05-06|title=Ryder Names New Chief Financial Officer and New President of its Fleet Management Solutions Business|language=en-US|work=Business Wire|url=https://www.businesswire.com/news/home/20210506006223/en/Ryder-Names-New-Chief-Financial-Officer-and-New-President-of-its-Fleet-Management-Solutions-Business|access-date=2021-05-06|issn=}}</ref> | ||
| services = {{nowrap|]}}<br>{{nowrap|]}}<br>{{nowrap|Dedicated carrier}}<br>{{nowrap|Cargo truck rental}} | | services = {{nowrap|]}}<br>{{nowrap|]}}<br>{{nowrap|Dedicated carrier}}<br>{{nowrap|Cargo truck rental}} | ||
| revenue = {{nowrap|{{increase}} |
| revenue = {{nowrap|{{increase}} US$11.8 billion|link=yes}}<nowiki> (2023)}}</nowiki> | ||
| operating_income = {{nowrap|{{decrease}} US$ |
| operating_income = {{nowrap|{{decrease}} US$9.497 billion (2023)}} | ||
⚫ | | num_employees = 48,100<ref>{{cite web |title=SEC Form 10-K |url=https://www.sec.gov/Archives/edgar/data/85961/000008596120000089/a201910-k.htm |publisher=SEC.GOV |access-date=12 July 2020 |date=31 December 2019}}</ref> | ||
| net_income = {{nowrap|{{decrease}} US$24.41 million (2019)}} | |||
⚫ | | num_employees_year = 2023 | ||
| assets = {{nowrap|{{decrease}} US$1.562 billion (2019)}} | |||
| equity = {{nowrap|{{decrease}} US$2.476 billion (2019)}} | |||
⚫ | | num_employees = |
||
⚫ | | num_employees_year = |
||
| website = {{URL|ryder.com}} | | website = {{URL|ryder.com}} | ||
| footnotes = <ref>{{cite web|url=https://ryder.com/newsroom/media-resources|title=Ryder Media Resources|publisher=Ryder System, Inc.|access-date=July 16, 2017|archive-url=https://web.archive.org/web/20170405013328/https://ryder.com/newsroom/media-resources|archive-date=April 5, 2017|url-status=live}}</ref><ref>{{Citation|title=Financial Statements|url=https://www.dnb.com/business-directory/company-profiles.ryder_system_inc.c55be66e024056d8a1874d379146fb71.html#financials-anchor}}</ref> | | footnotes = <ref>{{cite web|url=https://ryder.com/newsroom/media-resources|title=Ryder Media Resources|publisher=Ryder System, Inc.|access-date=July 16, 2017|archive-url=https://web.archive.org/web/20170405013328/https://ryder.com/newsroom/media-resources|archive-date=April 5, 2017|url-status=live}}</ref><ref>{{Citation|title=Financial Statements|url=https://www.dnb.com/business-directory/company-profiles.ryder_system_inc.c55be66e024056d8a1874d379146fb71.html#financials-anchor}}</ref> | ||
}} | }} | ||
]]] | ] | ||
] |
] | ||
]]] | ] | ||
⚫ | '''Ryder System, Inc.''' is a port-to-door supply chain and transportation solutions company in North America.<ref name="Reut">{{cite web |title=About Ryder |url=https://www.ryder.com/en-us/about-us |url-status=live |archive-url=https://web.archive.org/web/20080528094904/http://www.reuters.com/finance/stocks/companyProfile?symbol=R.N |archive-date= |access-date=August 8, 2024 |website=Ryder System, Inc. |publisher=Reuters}}</ref> | ||
Ryder provides technology-driven supply chain, dedicated transportation, and fleet management solutions to companies of all sizes from emerging businesses to some of the world's most known brands. Its solutions include warehouse management, distribution management, e-commerce fulfillment, managed transportation, last mile delivery, contract packaging, contract manufacturing, freight brokerage, truck leasing, maintenance, truck rental, and used vehicle sales, as well as provide proprietary technology platforms and trained employees.<ref>{{Cite web |title=About Ryder {{!}} Fleet, Transportation & Supply Chain Solutions |url=https://www.ryder.com/en-us/about-us |access-date=2024-08-23 |website=Ryder Website |language=en-US}}</ref> The company is headquartered in ], and operates in North America. | |||
⚫ | '''Ryder System, Inc.''' is |
||
Ryder specializes in ], supply chain management, and transportation management. It also offers full-service leasing, rental and maintenance, used vehicle sales, transportation management, professional drivers, e-commerce fulfillment, and last-mile delivery services.<ref name="Reut"/> The company is headquartered in ], and operates in the United States and United Kingdom. | |||
== History == | == History == | ||
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The Ryder Charitable Foundation was established in 1984. Since that time it has supported :],<ref>{{Cite web|last=Staff|first=Women In Trucking|title=Women In Trucking Association Continues Partnership with Ryder System|url=http://www.womenintrucking.org/press-releases/women-in-trucking-association-continues-partnership-with-ryder-system-inc|access-date=2020-08-16|website=www.womenintrucking.org|language=en}}</ref> ],<ref>{{Cite web|date=2020|title=Truckers Against Trafficking|url=https://truckersagainsttrafficking.org/get-involved/|access-date=16 August 2020}}</ref> the ],<ref>{{Cite web|date=2016-11-04|title=Ryder Sets Employee Giving Record for United Way|url=https://fuelsmarketnews.com/ryder-sets-employee-giving-record-united-way/|access-date=2020-08-16|website=Fuels Market News|language=en-US}}</ref> Hiring Our Heroes,<ref>{{Cite web|date=14 November 2011|title=TRALA and Ryder supporting Hire Our Heroes program|url=https://www.fleetowner.com/fleet-management/article/21678481/trala-and-ryder-supporting-hire-our-heroes-program|access-date=2020-08-16|website=www.fleetowner.com}}</ref> and ].<ref>{{Cite web|title=Our Board|url=https://bbbsmiami.org/about/our-board/|access-date=2020-08-16|website=Big Brothers Big Sisters Miami|language=en-US}}</ref><ref>{{Cite web|title=Dreamakers|url=https://bbbsmiami.org/dreamakers/|access-date=2020-08-16|website=Big Brothers Big Sisters Miami|language=en-US}}</ref> the Jackson health Foundation,<ref>{{Cite web|title=Jackson South Medical Center Celebrates the Naming of its New Ryder Trauma Center|url=https://jacksonhealth.org/advisories/jackson-south-medical-center-celebrates-the-naming-of-its-new-ryder-trauma-center/|access-date=2020-08-16|website=Jackson Health System|language=en-US}}</ref> and the ].<ref>{{Cite web|title=Ryder System, Inc.|url=https://www.redcross.org/donations/companies-and-foundations/giving-opportunities-and-corporate-supporters/Ryder.html|access-date=2020-08-16|website=www.redcross.org|language=en}}</ref> | The Ryder Charitable Foundation was established in 1984. Since that time it has supported :],<ref>{{Cite web|last=Staff|first=Women In Trucking|title=Women In Trucking Association Continues Partnership with Ryder System|url=http://www.womenintrucking.org/press-releases/women-in-trucking-association-continues-partnership-with-ryder-system-inc|access-date=2020-08-16|website=www.womenintrucking.org|language=en}}</ref> ],<ref>{{Cite web|date=2020|title=Truckers Against Trafficking|url=https://truckersagainsttrafficking.org/get-involved/|access-date=16 August 2020}}</ref> the ],<ref>{{Cite web|date=2016-11-04|title=Ryder Sets Employee Giving Record for United Way|url=https://fuelsmarketnews.com/ryder-sets-employee-giving-record-united-way/|access-date=2020-08-16|website=Fuels Market News|language=en-US}}</ref> Hiring Our Heroes,<ref>{{Cite web|date=14 November 2011|title=TRALA and Ryder supporting Hire Our Heroes program|url=https://www.fleetowner.com/fleet-management/article/21678481/trala-and-ryder-supporting-hire-our-heroes-program|access-date=2020-08-16|website=www.fleetowner.com}}</ref> and ].<ref>{{Cite web|title=Our Board|url=https://bbbsmiami.org/about/our-board/|access-date=2020-08-16|website=Big Brothers Big Sisters Miami|language=en-US}}</ref><ref>{{Cite web|title=Dreamakers|url=https://bbbsmiami.org/dreamakers/|access-date=2020-08-16|website=Big Brothers Big Sisters Miami|language=en-US}}</ref> the Jackson health Foundation,<ref>{{Cite web|title=Jackson South Medical Center Celebrates the Naming of its New Ryder Trauma Center|url=https://jacksonhealth.org/advisories/jackson-south-medical-center-celebrates-the-naming-of-its-new-ryder-trauma-center/|access-date=2020-08-16|website=Jackson Health System|language=en-US}}</ref> and the ].<ref>{{Cite web|title=Ryder System, Inc.|url=https://www.redcross.org/donations/companies-and-foundations/giving-opportunities-and-corporate-supporters/Ryder.html|access-date=2020-08-16|website=www.redcross.org|language=en}}</ref> | ||
In 1996, Ryder decided to focus on commercial truck rental and leasing, and exited the "one-way" business arena; which was purchased by equity firm Questor Partners Fund LP, who later sold it to ] in June 1998.<ref>{{Cite web|url=http://business.highbeam.com/industry-reports/personal/truck-rental-leasing-without-drivers|archive-url=https://web.archive.org/web/20101028054346/http://business.highbeam.com/industry-reports/personal/truck-rental-leasing-without-drivers|url-status=dead|archive-date=2010-10-28|title=Truck Rental and Leasing Without Drivers market report |website=highbeam.com|access-date=2017-10-11}}</ref><ref>{{Cite web|title=Budget To Acquire Ryder Deal Would Create No. 2 U.S. Truck, Car Rental Firm |url=https://www.spokesman.com/stories/1998/mar/05/budget-to-acquire-ryder-deal-would-create-no-2-us/|access-date=2020-09-20|website=www.spokesman.com}}</ref> | |||
In December 2011, the non-partisan organization ] criticized Ryder for spending $960,000 on ] and not paying any taxes during 2008–2010, instead getting $46 million in tax rebates, despite making a profit of $627 million.<ref>{{cite web|last=Portero|first=Ashley|title=30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes, 2008–2010|url=http://www.ibtimes.com/articles/264481/20111209/30-major-u-s-corporations-paid-lobby.htm|work=]|access-date=December 26, 2011|archive-url=https://web.archive.org/web/20120107173713/http://www.ibtimes.com/articles/264481/20111209/30-major-u-s-corporations-paid-lobby.htm|url-status=live|archive-date=January 7, 2012}}</ref> | |||
In 2017 Ryder launched electric truck rentals in ], and ], ]. The trucks were equipped with 70kWh batteries, which had an estimated range of 100 miles.<ref>{{Cite news|url=https://www.theverge.com/2017/11/3/16598208/ryder-chanje-electric-van-rentals-new-york-california|title=Ryder will start renting electric vans in New York, California, and Illinois|work=The Verge|access-date=2017-11-03|archive-url=https://web.archive.org/web/20171103181830/https://www.theverge.com/2017/11/3/16598208/ryder-chanje-electric-van-rentals-new-york-california|archive-date=2017-11-03|url-status=live}}</ref> Ryder is the exclusive maintenance provider for ]'s electric fleet in North America, first launched in the San Francisco Bay area in 2018.<ref>{{Cite web|date=3 May 2017|title=Ryder partners with Workhorse Group|url=https://www.fleetowner.com/resource-center/maintenance/article/21695945/ryder-partners-with-workhorse-group|access-date=2020-08-12|website=www.fleetowner.com}}</ref><ref>{{Cite web|last=Kane|first=Mark|date=30 March 2018|title=Workhorse N-GEN Electric Van Hits The Road|url=https://insideevs.com/news/337431/workhorse-n-gen-electric-van-hits-the-road/|access-date=2020-08-12|website=InsideEVs|language=en}}</ref> | In 2017 Ryder launched electric truck rentals in ], and ], ]. The trucks were equipped with 70kWh batteries, which had an estimated range of 100 miles.<ref>{{Cite news|url=https://www.theverge.com/2017/11/3/16598208/ryder-chanje-electric-van-rentals-new-york-california|title=Ryder will start renting electric vans in New York, California, and Illinois|work=The Verge|access-date=2017-11-03|archive-url=https://web.archive.org/web/20171103181830/https://www.theverge.com/2017/11/3/16598208/ryder-chanje-electric-van-rentals-new-york-california|archive-date=2017-11-03|url-status=live}}</ref> Ryder is the exclusive maintenance provider for ]'s electric fleet in North America, first launched in the San Francisco Bay area in 2018.<ref>{{Cite web|date=3 May 2017|title=Ryder partners with Workhorse Group|url=https://www.fleetowner.com/resource-center/maintenance/article/21695945/ryder-partners-with-workhorse-group|access-date=2020-08-12|website=www.fleetowner.com}}</ref><ref>{{Cite web|last=Kane|first=Mark|date=30 March 2018|title=Workhorse N-GEN Electric Van Hits The Road|url=https://insideevs.com/news/337431/workhorse-n-gen-electric-van-hits-the-road/|access-date=2020-08-12|website=InsideEVs|language=en}}</ref> | ||
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Launched in April 2018,<ref>{{Cite web|date=2018-04-02|title=Ryder launches Airbnb-like sharing platform for truck equipment|url=https://www.freightwaves.com/news/equipment/ryder-launches-asset-sharing-platform|access-date=2020-07-09|website=FreightWaves|language=en-US}}</ref> the company operates a peer-to-peer truck-sharing platform, COOP, that allows owners of commercial vehicles to rent unused trucks and trailers to businesses. The program expanded to Florida in January 2019<ref>{{Cite web|last=Huff|first=Aaron|date=24 January 2019|title=Ryder expands truck sharing platform to Florida|url=https://www.ccjdigital.com/ryder-expands-truck-sharing-platform-to-florida/|access-date=2020-07-09|website=www.ccjdigital.com}}</ref> and further expanded in Texas in February 2020.<ref>{{Cite web|date=2020-02-03|title=Ryder Expands Truck-Sharing Program COOP|url=https://www.ttnews.com/articles/ryder-expands-its-truck-sharing-program|access-date=2020-07-09|website=Transport Topics|language=en}}</ref> | Launched in April 2018,<ref>{{Cite web|date=2018-04-02|title=Ryder launches Airbnb-like sharing platform for truck equipment|url=https://www.freightwaves.com/news/equipment/ryder-launches-asset-sharing-platform|access-date=2020-07-09|website=FreightWaves|language=en-US}}</ref> the company operates a peer-to-peer truck-sharing platform, COOP, that allows owners of commercial vehicles to rent unused trucks and trailers to businesses. The program expanded to Florida in January 2019<ref>{{Cite web|last=Huff|first=Aaron|date=24 January 2019|title=Ryder expands truck sharing platform to Florida|url=https://www.ccjdigital.com/ryder-expands-truck-sharing-platform-to-florida/|access-date=2020-07-09|website=www.ccjdigital.com}}</ref> and further expanded in Texas in February 2020.<ref>{{Cite web|date=2020-02-03|title=Ryder Expands Truck-Sharing Program COOP|url=https://www.ttnews.com/articles/ryder-expands-its-truck-sharing-program|access-date=2020-07-09|website=Transport Topics|language=en}}</ref> | ||
As of December 31, |
As of December 31, 2023, Ryder owned or leased 259,000 vehicles.<ref name=":0" /> As of January 2020, they were the largest truck supplier in the US.<ref>{{Cite web|last=Wile|first=Rob|date=31 January 2020|title=By land, sea and air, Super Bowl-bound snowbirds are landing — and spending|url=https://www.miamiherald.com/article239716963.html|access-date=9 July 2020|website=Miami Herald}}</ref> | ||
=== Supply chain === | === Supply chain === | ||
Ryder' supply chain operations accounted for 28% of its revenue for a total of $649 million for Q4 2019.<ref name=":1">{{Cite web|title=Ryder Reports Record Revenue of $8.9 Billion in 2019, Up 6.1%; Earnings Include Previously Announced Residual Value Change Impact|url=https://investors.ryder.com/investors/news-and-events/news-releases/press-release-details/2020/Ryder-Reports-Record-Revenue-of-89-Billion-in-2019-Up-61-Earnings-Include-Previously-Announced-Residual-Value-Change-Impact/default.aspx|access-date=2020-07-14|website=investors.ryder.com|language=en-US}}</ref> This business consists of management of a customer's supply chain. Ryder managed over |
Ryder' supply chain operations accounted for 28% of its revenue for a total of $649 million for Q4 2019.<ref name=":1">{{Cite web|title=Ryder Reports Record Revenue of $8.9 Billion in 2019, Up 6.1%; Earnings Include Previously Announced Residual Value Change Impact|url=https://investors.ryder.com/investors/news-and-events/news-releases/press-release-details/2020/Ryder-Reports-Record-Revenue-of-89-Billion-in-2019-Up-61-Earnings-Include-Previously-Announced-Residual-Value-Change-Impact/default.aspx|access-date=2020-07-14|website=investors.ryder.com|language=en-US}}</ref> This business consists of management of a customer's supply chain. Ryder managed over 100 million square feet (4,645,152 m<sup>2</sup>) of ] space on December 31, 2023.<ref name=":0" /> | ||
In December 2010 Ryder bought TLC, a supply chain services company based in ].<ref>{{Cite news|url=http://www.mlive.com/business/west-michigan/index.ssf/2010/12/ryder_acquires_big_holland-bas.html|title=Ryder acquires big Holland-based warehouser with 2,500 employees nationwide|work=MLive.com|access-date=2017-10-11|language=en-US|archive-url=https://web.archive.org/web/20171012044425/http://www.mlive.com/business/west-michigan/index.ssf/2010/12/ryder_acquires_big_holland-bas.html|archive-date=2017-10-12|url-status=live}}</ref> | In December 2010 Ryder bought TLC, a supply chain services company based in ].<ref>{{Cite news|url=http://www.mlive.com/business/west-michigan/index.ssf/2010/12/ryder_acquires_big_holland-bas.html|title=Ryder acquires big Holland-based warehouser with 2,500 employees nationwide|work=MLive.com|access-date=2017-10-11|language=en-US|archive-url=https://web.archive.org/web/20171012044425/http://www.mlive.com/business/west-michigan/index.ssf/2010/12/ryder_acquires_big_holland-bas.html|archive-date=2017-10-12|url-status=live}}</ref> | ||
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== Awards and recognition == | == Awards and recognition == | ||
* |
*Ryder secured a spot in the “Fortune 500” list of the largest U.S. companies. This ranking shows Ryder as #350 with $11.78 billion in revenue and among the top 5 Transportation & Logistics companies.<ref>{{Cite web |title=Fortune 500 |url=https://fortune.com/ranking/fortune500/ |access-date=2024-08-26 |website=Fortune |language=en}}</ref> | ||
* |
*Newsweek name Ryder one of “America’s Greatest Workplaces” <ref>{{Cite web |date=2024-07-18 |title=Ryder Honored Among Newsweek’s America’s Greatest Workplaces for 2024 |url=https://finance.yahoo.com/news/ryder-honored-among-newsweek-america-105500269.html |access-date=2024-08-26 |website=Yahoo Finance |language=en-US}}</ref> | ||
*Ryder is a “VETS Indexes Recognized Employer” for recruiting, hiring, retaining, developing, and supporting veterans and the military-connected community. | |||
* FORTUNE 500 2019 and 2020<ref>{{Cite web|title=Ryder System|url=https://fortune.com/fortune500/2019/ryder-system/|access-date=2020-08-23|website=Fortune|language=en}}</ref> | |||
*Supply & Demand Chain Executive awarded Ryder its “Top Supply Chain Projects” award for transforming our Southern Glazer's Wine & Spirits customers’ supply chain by improving visibility, productivity, and customer service through RyderShare.<ref>{{Cite web |date=2024-06-18 |title=Ryder Recognized Among Supply & Demand Chain Executive’s ‘Top Supply Chain Projects’ |url=https://finance.yahoo.com/news/ryder-recognized-among-supply-demand-105500031.html |access-date=2024-08-26 |website=Yahoo Finance |language=en-US}}</ref> | |||
* Military Friendly Employer 2020<ref>{{Cite web|title=Military Friendly – Military Friendly|url=https://www.militaryfriendly.com/employers/|access-date=2020-08-23|website=www.militaryfriendly.com}}</ref> | |||
*Food Logistics’ “Top Third-Party Logistics & Cold Storage Providers” for the 12th consecutive year. | |||
* Top Company for Women to Work for in Transportation 2019<ref>{{Cite web|last=Staff|first=Women In Trucking|title=Top Companies for Women to Work For in Transportation Named by WIT|url=http://www.womenintrucking.org/press-releases/top-companies-for-women-to-work-for-in-transportation-named-by-wit|access-date=2020-08-23|website=www.womenintrucking.org|language=en}}</ref> | |||
* Recognized by USA Today as one of “America's Climate Leaders for 2024” | |||
* America's Outstanding Navy Reserve Employers 2019<ref>{{Cite web|title=Welcome to Ryder System|url=https://www.troops2transport.com/wp-content/uploads/2019/12/Ryder-DDP-Fact-Sheet.pdf|access-date=23 August 2020|quote=The U.S. Navy Reservere cognized Ryder as one of America’s Outstanding Navy Reserve Employers in 2019}}</ref> | |||
* Ryder México has been included in Expansión magazine’s ranking of the “500 most important companies in Mexico | |||
* Ryder México was also recognized in the "500 Companies Against Corruption" index, which evaluates the existence, quality, and visibility of integrity policies among major Mexican companies.. | |||
* Ryder México received a “Socially Responsible Company” recognition from the Mexican Center for Philanthropy. | |||
==References== | ==References== |
Revision as of 20:25, 26 August 2024
North American supply chain and transportation solutions company For other uses, see Ryder (disambiguation).This article contains promotional content. Please help improve it by removing promotional language and inappropriate external links, and by adding encyclopedic text written from a neutral point of view. (July 2022) (Learn how and when to remove this message) |
Company type | Public |
---|---|
Traded as | |
Industry | Transportation |
Founded | 1933; 91 years ago (1933) in Miami, Florida, U.S. |
Founder | James Ryder |
Headquarters | Coral Gables, Florida, U.S. |
Key people | Robert E. Sanchez (president & CEO) John Diez (EVP & CFO) |
Services | Fleet management Supply chain management Dedicated carrier Cargo truck rental |
Revenue | US$11.8 billion (2023)}} |
Operating income | US$9.497 billion (2023) |
Number of employees | 48,100 (2023) |
Website | ryder |
Footnotes / references |
Ryder System, Inc. is a port-to-door supply chain and transportation solutions company in North America.
Ryder provides technology-driven supply chain, dedicated transportation, and fleet management solutions to companies of all sizes from emerging businesses to some of the world's most known brands. Its solutions include warehouse management, distribution management, e-commerce fulfillment, managed transportation, last mile delivery, contract packaging, contract manufacturing, freight brokerage, truck leasing, maintenance, truck rental, and used vehicle sales, as well as provide proprietary technology platforms and trained employees. The company is headquartered in Coral Gables, Florida, and operates in North America.
History
Ryder was founded in Miami, Florida in 1933 by James Ryder as a concrete hauling company with one truck, a 1931 Model "A" Ford. In 1938, Ryder signed a five-truck lease deal with Champagne Velvet Beer, increasing Ryder's fleet to 20 trucks. By the following year, the fleet had more than 50 trucks. This led to Ryder changing its focus from distribution to leasing. Ryder bought Great Southern Trucking Company in 1952. In 1955, Ryder System, Inc. was formed to combine Great Southern and Ryder Truck Rental. Ryder System went public in 1955. In the 1960s and 1970s, Ryder expanded into distribution and supply chain. James Ryder retired in 1978.
The Ryder Charitable Foundation was established in 1984. Since that time it has supported :Women in Trucking, Truckers Against Trafficking, the United Way, Hiring Our Heroes, and Big Brothers Big Sisters. the Jackson health Foundation, and the American Red Cross.
In 2017 Ryder launched electric truck rentals in California, and Chicago, Illinois. The trucks were equipped with 70kWh batteries, which had an estimated range of 100 miles. Ryder is the exclusive maintenance provider for Workhorse's electric fleet in North America, first launched in the San Francisco Bay area in 2018.
Business
Ryder divides its business into three segments: Fleet Management Solutions, Supply Chain Solutions, and Dedicated Transportation Solutions. As of December 31, 2019, the total company revenue was $8.93 billion, with profits before income taxes of $42.27 million. The number of full-time employees, as of December 2019 was 39,900 globally, with 38,600 in North America and 1,300 in Europe. The company employs approximately 9,500 drivers, 6,300 technicians and have approximately 25,600 hourly employees in the U.S. About 4,300 of those are organized by labor unions.
Fleet management
Ryder's fleet management business is its largest business segment, accounting for 61% of the company's total revenue of $2.3 billion, or $1.4 billion for Q4 of 2019. This arm of the business does contract-based full-service leasing, contract maintenance, commercial rental and fleet support services. Under full-service leasing Ryder owns and maintains the trucks and the customer determines the destination. Commercial rentals are the white Ryder trucks which the contract customers can rent on a temporary basis. Ryder grew its North American rental fleet to nearly 30,000 vehicles in 2010 and 2011 raising the percentage of model year 2010 or newer vehicles in the fleet to more than 40 percent. Support services consist of insurance, vehicle permits, and fuel.
In April 2011 Ryder bought B.I.T. Leasing, from Hayward, California. Also in 2011 it acquired the full service leasing and rental business of Carmenita Leasing, Inc., located in Santa Fe Springs, California, and the full service lease, contract maintenance, commercial rental and dedicated contract carriage business, The Scully Companies, Inc., based in Fontana, California.
Launched in April 2018, the company operates a peer-to-peer truck-sharing platform, COOP, that allows owners of commercial vehicles to rent unused trucks and trailers to businesses. The program expanded to Florida in January 2019 and further expanded in Texas in February 2020.
As of December 31, 2023, Ryder owned or leased 259,000 vehicles. As of January 2020, they were the largest truck supplier in the US.
Supply chain
Ryder' supply chain operations accounted for 28% of its revenue for a total of $649 million for Q4 2019. This business consists of management of a customer's supply chain. Ryder managed over 100 million square feet (4,645,152 m) of warehouse space on December 31, 2023.
In December 2010 Ryder bought TLC, a supply chain services company based in Holland, Michigan.
Dedicated Transportation Solutions
Ryder Dedicated Transportation Solutions accounted for 15% of its revenue for a total of $346 million for Q4 2019. This arm of the business conducts both leasing and supply chain management. In 2013, Ryder launched a new name and identity for this program called Ryder Dedicated. The company expanded its Last Mile Delivery service for bulky and large goods to 11 markets in North America. In February 2019 Ryder launched a program for e-commerce that allows manufacturers to ship directly to consumers instead of using third-party shipping for small to large products. In May 2020 the company added food-grade capabilities to its e-commerce service.
Acquisitions and partnerships
In 2008, Ryder acquired three regional competitors: Pollock NationaLease, Lily Transportation and Gator Leasing.
In April 2018, Ryder acquired Ohio-based MXD Group, an e-commerce fulfillment and last mile delivery provider with a network of 109 fulfillment centers across the United States and Canada. In May of that year, Ryder introduced RyderGyde™, a smartphone app for drivers and fleet managers to monitor and manage their fleets. In November 2018, the company ordered 1,000 electric trucks to add to their fleet. In May 2020 RyderShare was introduced as a collaborative logistics platform.
In January 2020 Ryder began a partnership with In-Charge Energy, Inc. and ABB, a provider of industrial automation and technology to provide electric vehicle charging to Ryder's customers. In June 2020 Ryder began a partnership with Turvo, a provider of collaborative logistics software
In January 2022, Ryder completed the acquisition of Whiplash (formerly Port Logistics Group) for approximately $480 million in cash.
In October 2023, Ryder acquired Impact Fulfillment Services to add contract packaging and manufacturing capabilities.
In February 2024, Ryder acquired Cardinal Logistics, a North Carolina-based company.
Locations
Previously Ryder had its headquarters in Doral, Florida. As of December 31, 2019, Ryder had 524 locations in 50 US States and Puerto Rico. This includes a Shared Services Center in Alpharetta, GA that employs over 500 people and provides support to all FMS operations. Ryder opened a new logistics center in London, Ontario, Canada in January 2018. The company announced the planned opening of two multi-client facilities in Perris, California and Fort Worth, Texas, while expanding an already existing Ryder warehouse in Douglassville, Pennsylvania. The three facilities were expected to be fully operational by May 2019. In May 2020 the company began to expand its e-commerce network with the opening of a new facility in Philadelphia and adding FDA approval for food-grade service to two other facilities in Perris, California and Dallas, Texas.
Awards and recognition
- Ryder secured a spot in the “Fortune 500” list of the largest U.S. companies. This ranking shows Ryder as #350 with $11.78 billion in revenue and among the top 5 Transportation & Logistics companies.
- Newsweek name Ryder one of “America’s Greatest Workplaces”
- Ryder is a “VETS Indexes Recognized Employer” for recruiting, hiring, retaining, developing, and supporting veterans and the military-connected community.
- Supply & Demand Chain Executive awarded Ryder its “Top Supply Chain Projects” award for transforming our Southern Glazer's Wine & Spirits customers’ supply chain by improving visibility, productivity, and customer service through RyderShare.
- Food Logistics’ “Top Third-Party Logistics & Cold Storage Providers” for the 12th consecutive year.
- Recognized by USA Today as one of “America's Climate Leaders for 2024”
- Ryder México has been included in Expansión magazine’s ranking of the “500 most important companies in Mexico
- Ryder México was also recognized in the "500 Companies Against Corruption" index, which evaluates the existence, quality, and visibility of integrity policies among major Mexican companies..
- Ryder México received a “Socially Responsible Company” recognition from the Mexican Center for Philanthropy.
References
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- Federman, Amy (2021-05-06). "Ryder Names New Chief Financial Officer and New President of its Fleet Management Solutions Business". Business Wire. Retrieved 2021-05-06.
- "SEC Form 10-K". SEC.GOV. 31 December 2019. Retrieved 12 July 2020.
- "Ryder Media Resources". Ryder System, Inc. Archived from the original on April 5, 2017. Retrieved July 16, 2017.
- Financial Statements
- "About Ryder". Ryder System, Inc. Reuters. Retrieved August 8, 2024.
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Further reading
- Saunders, Harris. Top Up or Down? The Origin and Development of the Automobile and Truck Renting and Leasing Industry—56 Years, 1916–1972. Birmingham, AL: Harris Saunders, 1972.
External links
- Official website
- Business data for Ryder System, Inc.:
Dow Jones Transportation Average components | |
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- Truck rental
- Companies based in Miami-Dade County, Florida
- American companies established in 1933
- Transport companies established in 1933
- Companies listed on the New York Stock Exchange
- Companies in the Dow Jones Transportation Average
- Trucking companies of the United States
- Logistics companies of the United States
- 1933 establishments in Florida
- Transportation companies based in Florida
- Companies in the S&P 400